https://www.taxtmi.com/article/detailed?id=9104 Finance Act, 2020 adds Section 6(1A) deeming an Indian citizen resident where Indian source income (excluding foreign income) exceeds Rs. 15 lakh and the individual is not liable to tax elsewhere; Explanation 1(b) is amended to substitute 120 days for the prior 60 day rule for affected taxpayers, and Section 6(6) is expanded with new NOR conditions. The amendments broaden taxable scope to include foreign income derived from business controlled in or profession set up in India and trigger loss of non resident concessions, DTAA benefits, and mandatory foreign asset disclosure. en-us Wed, 22 Apr 2020 09:38:42 +0530 Wed, 11 Feb 2026 15:58:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9104 Finance Act, 2020 adds Section 6(1A) deeming an Indian citizen resident where Indian source income (excluding foreign income) exceeds Rs. 15 lakh and the individual is not liable to tax elsewhere; Explanation 1(b) is amended to substitute 120 days for the prior 60 day rule for affected taxpayers, and Section 6(6) is expanded with new NOR conditions. The amendments broaden taxable scope to include foreign income derived from business controlled in or profession set up in India and trigger loss of non resident concessions, DTAA benefits, and mandatory foreign asset disclosure. Articles Income Tax Wed, 22 Apr 2020 09:38:42 +0530 https://www.taxtmi.com/article/detailed?id=9104